USIBC lauds India’s rise in World Bank’s ease of doing business index

The U.S.-India Business Council (USIBC) has applauded the Government of India's efforts for undertaking significant efforts, resulting in improvements in India's ranking on the World Bank's "Ease of Doing Business" index.

The U.S.-India Business Council (USIBC) has applauded the Government of India’s efforts for undertaking significant efforts, resulting in improvements in India’s ranking on the World Bank’s “Ease of Doing Business” index.

The President of USIBC Mukesh Aghi said that improvement in India’s position in the index sends a crystal clear signal that India is open for business.

“The improvement in India’s position in World Bank’s Ease of Doing business index sends a crystal clear signal that India is open for business at a time when economic opportunity is certainly welcome,” said Aghi.

“We commend Prime Minister Modi and his Cabinet for their efforts in seeing important reforms through, improving the overall investment sentiment and attracting long-term foreign investment in India,” he added.

He said that Centre’s recent initiaves gives clear indication that the Prime Minister is committed to delivering on his promises and creating more jobs and prosperity for the citizens.

“Government of India initiatives to provide greater tax clarity through moves like forming a body to simplify income tax laws, the recent MAT ruling, allowing businesses to start with ease, speedy settlement of commercial disputes are clear indications that the Prime Minister is committed to delivering on his promises and creating more jobs and prosperity for the citizens of the country,” he said.

“The Council now eagerly awaits a successful conclusion of the government- to -government trade policy forum dialogue as well as the passage of the GST bill,” he added.

Aghi further said that the USIBC looks forward to a strong partnership with India’s ambitious and important economic trajectory and will continue to advocate for the global investment community to view this improvement as a sea-change signal for India’s investment climate across all sectors.

What exactly was Dr Aghi's last date/month as one of the joint CEO of L&T Infotech (Services Cluster)? There was this piece of news (Oct-Nov, 2014), that to the best of my knowledge was exclusive to ToI and ET . I have not seen this news in any other online publications of Live Mint, Business Standard, Financial Express, Hindu Business Line, CXO Today etc. Please refer, The Times of India article- Oct 22, 2014 - L&T Infotech joint CEOs quit Oct 22 2014 -. Excerpts: "The joint CEOs of L&T Infotech, Vivek Chopra and Mukesh Aghi, quit the company last week after two years at the helm --The reasons for the exit are not clear, but analysts noted that the leadership in the nearly $1-billion L&T Infotech had become very top heavy. Above the joint CEOs was V K Magapu, the managing director; and in May this year, the company appointed former Infosys senior vice-president Chandrashekar Kakal as COO". Please refer, The Economic Times article - Nov 6, 2014 - L&T Info to hire joint CEOs by month end; but all decisions funnelled through AM Naik - Excerpts – "Joint CEOs Vivek Chopra and Mukesh Aghi leave the company last month, two years after they were appointed-- To be sure, both Chopra and Aghi were not true CEOs in that they both reported to managing director VK Magapu, who then reported into Naik. Magapu was brought into the company in September 2012 after he retired from L&T." Eentry-exit of CXOs information usually affects share prices of company, L&T stock after this news up by 3% on 15 Jan after a along haul!-------------------------------------------------------------------------------------------How about Dr Aghi’s well studied plans/targets of taking LnT Infotech to $1 billion revenue club by 2013 end and $3 billion in next 2-3 years i.e. 2015-16? As per recent report LnT Infotech is expecting to be in $1 billion (in revenues) club by mid 2016. Should we expect some credibility from business leaders like Dr Aghi. Where he has taken Steria India headcount and revenues as CEO, where he has taken LnT Infotech (services cluster) headcount and revenue as CEO of LnT Infotech (Services Cluster)? His exits from both these firms were quite shrouded, why he did not reach out to media to discuss about his tenures and exit at LnT Infotech and reasons why he failed to achieve the set target? Should we expect some transparency, accountability and credibility from business leaders? When Dr Aghi says he is bullish about India-US trade peion of $500 billion can it be taken at face value with seriousness? What is Dr Aghi’s breath taking performance CEO of Steria India and CEO of LnT Infotech (Services Cluster) that made him eligible for such important position with a substantial bearing on India-US trade potential of $500 billion?

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Harry Potter

Nov 25, 2015 at 6:06 am

What exactly was Dr Aghi's last date/month as one of the joint CEOs of L&T Infotech (Services Cluster)? How about Dr Aghi’s well studied plans/targets of taking LnT Infotech to $1 billion revenue club by 2013 end and $3 billion in next 2-3 years i.e. 2015-16 as one of the joint CEOs of L&T Infotech (Services Cluster)? As per recent report LnT Infotech is expecting to be in $1 billion (in revenues) club by mid 2016. Should we expect some credibility from business leaders like DrAghi. Where he has taken Steria India headcount and revenues as CEO, where he has taken LnT Infotech (services cluster) headcount and revenue as CEO of LnT Infotech (Services Cluster)? His exits from both these firms were quite shrouded, why he did not reach out to media to discuss about his tenures and exit at LnT Infotech and reasons why he failed to achieve the set target? Should we expect some transparency, accountability and credibility from business leaders? What is Dr Aghi’s breath taking performance CEO of Steria India and CEO of LnT Infotech (Services Cluster) that made him eligible for such important position with a substantial bearing on India-US trade potential of $500 billion?